RIL: Zero net debt target surpassed

Reliance Industries Ltd (RIL) is now a “truly zero net debt” company following the capital raising at Jio Platforms and the rights issue, and it will now look forward to only adding strategic partners to each of its businesses, chairman and managing director Mukesh Ambani said at the virtual AGM on Wednesday.

Addressing shareholders at the AGM, he said that the capital raising at Jio Platforms is significantly in excess of its net debt of Rs 161,035 crore at the end of 2019-20. Including the Rs 53,000-crore rights issue and over Rs 7,000 crore from the BP deal, Reliance has garnered in excess of Rs 2 lakh crore.